Reuters is reporting this morning that Twitter’s board may announce its acceptance of Elon Musk’s offer to purchase Twitter for $54.20 per share.
The news agency cites “people familiar with the matter” in its coverage and notes that these sources said the deal could always collapse at the last minute.
Musk acquired a 9.1% stake in Twitter on April 4, making him the company’s largest shareholder.
Twitter announced that Musk would be joining its board; however, Tesla’s CEO announced on April 9 via Twitter that he had declined that offer.
Had he accepted the board seat, Musk’s stake in Twitter would have been limited to no more than 14.9% for the duration of his service, plus 90 days.
Story developing…